Real estate experts at Burges Salmon have helped St. Modwen complete two deals, which include the second phase of development at the £35 million Castledown Business Park scheme in Wiltshire and the sale and entry into a Development Agreement with Gardiner Bros at Quedgeley West Business Park in Gloucester.
St. Modwen, the UK’s leading regeneration specialist has, in conjunction with Wiltshire Council, commenced work on the second phase of development at the £35 million Castledown Business Park scheme in Ludgershall, Wiltshire. This deal will see St. Modwen, which is the developer of the 33 acre employment site that is owned by Wiltshire Council, deliver Brydges Court, 33,650 sq ft of new accommodation in 15 units designed for office, storage and industrial use, on behalf of Wiltshire Council. The units, which range from 700 sq ft to 6,000 sq ft, will be available to purchase or rent and will be ready for occupation in January 2014.
The second deal has seen St. Modwen sign an agreement with Gloucestershire-based footwear specialist, Gardiner Bros & Co (Leathers) Ltd, to develop a custom built warehouse facility at Quedgeley West Business Park, which is located near Junction 12 of the M5 in Gloucestershire. Gardiner Bros, which distributes footwear and work wear to retail trade, will take occupation of the 34,700 sq ft bespoke premises in spring 2014 and will continue trading from its existing 30,000 sq ft headquarters at Quedgeley West, effectively doubling the size of its operations at the business park.
These latest deals follow the news in June 2013 that Burges Salmon’s Real Estate team advised St. Modwen on the final development phase of the £42 million business park with global manufacturer Lister Petter moving to the business park from Spring 2014 as part of a £2 million investment that will enable it to retain 200 jobs in the area.
Burges Salmon ensured the team that was put in place for St. Modwen met the client’s specific needs from the outset for both deals. The team was led by partner Ross Polkinghorne, who specialises in acting for developers on real estate development projects, with assistance from real estate associate Drew Nesbitt.
Pete Davies, development manager for St. Modwen in the south west, said: “Following Burges Salmon's assistance in June in relation to the final phase of the Quedgeley Business Park, the firm has continued to ensure that we receive high quality legal advice and client service with this latest advice that has helped us complete these two deals.”
Ross Polkinghorne of Burges Salmon said: “We were delighted to be able to further assist our client St. Modwen in helping it complete these most recent pieces of work. The Castledown and Quedgeley Business Parks are both strategically important schemes for local businesses and the economy, as they continue to help create new jobs and drive growth.”